Gold futures on the COMEX division of the New York Mercantile Exchange rose on Friday for the first time in the latest four trading days, as a weaker U.S. dollar and bargain hunting in the wake of recent slumps helped buoy up the sentiment.

The most active gold contract for June delivery hiked 17 dollars, or one percent, to settle at 1,671.9 U.S. dollars per ounce.

After three consecutive days of losses, gold rallied to post a one percent increase Friday, though still ended the week below Monday's highs.

Gold took support primarily from a weaker U.S. dollar, the Intercontinental Exchange (ICE) Dollar index slipping almost 0.5 percent in early morning trading.

The euro in particular rose against the dollar on Friday, also taking some momentum from an agreement by European finance ministers that temporarily raised the lending capacity of Eurozone rescue funds from 500 billion euros to 700 billion euros.

However, the recent violent protests in Spain regarding new austerity measures also could raise questions about future problems in Europe, and traders continue to monitor the situation accordingly.

Crude oil and the U.S. equities markets additionally made gains Friday and gave a more positive tone to outside market forces, despite mixed data which saw U.S. personal spending in February rise 0.8 percent but a weaker-than-expected Chicago Institute for Supply Management (ISM) report.

The most active platinum contract for July platinum delivery increased 15.8 dollars, or 0.97 percent, to close at 1,644.1 dollars per ounce. Silver for May delivery rose 49.2 cents, or 1. 54 percent, to settle at 32.484 dollars per ounce.